Stanley Goldstein, the co-founder of Woonsocket, R.I.-based CVS Corp. and CVS Health, died May 21 at the age of 89.
CVS helped create the foundational component for what is now known as CVS Health.
Mr. Goldstein opened Consumer Value Store in Lowell, Mass., with his brother Sid and partner Ralph Hoagland on May 9, 1963. From there, the company evolved under the leadership of Mr. Goldstein with a focus on pharmacy, health and beauty, according to a May 22 CVS Health news release.
In November 1996, CVS became a publicly traded company and Mr. Goldstein acted as its first chairman of the board until April 1999. He served on the board until 2007, according to the release.
"All of us at CVS Health mourn the loss of Stan, who was a true business pioneer, an outstanding mentor, and a caring leader," Karen Lynch, president and CEO of CVS Health, said in the release. "Stan's philosophy was to always listen to our customers and if we made sure to satisfy them, we would succeed. That idea of customer-centricity still drives us today. We honor Stan's memory and offer our sincerest condolences to his family, friends, and former colleagues."